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A bond is required:
- Many used car dealers have been caught out in fraudulent deals over the years
- If the used dealer does not satisfy his commitments and goes broke
And many more reasons
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How you can obtain dealers license in Florida?
I plan to open a used car dealer in kissimmee, florida, but I have not my car dealer license, i need to know the form i need to fill out to obtain my lisence before i continue to persut this ambition of mine, thnks, Omar
What you need in fl for obtain the retail car dealer licence?
You have to have at least $2500 worth of a Surity Bond,
I have a car dealer license in Kansas. Do I need a separate used boat dealer license?
Contact your local DMV for your answer.
Do you need to register the car you bought from a dealer in OH?
In most cases, you will not need to register your car, the dealer will do it for you. You need to ask as each dealer is different.
What is a used car bond?
It is a bond that a dealer has to buy to guarantee titles to vehicles. For instance if they take a car in on trade that has a payoff on it and they sell the car without paying off the note and then go bankrupt you would go after the bond money to pay the loan off. In most states only a small bond (around $40k) is required.
How do you start used car dealer?
First, work for a used car dealer atleast 6 to 12 months. Then prepare a good used car dealer business plan. Go from there.
How do you get a bond for a car dealers license?
You can acquire a dealer license bond through your local insurance agent or there are many on line sources. You need to understand that a license surety bond is a credit product. The bond guarantees that you are responsible for any claims made against the license. You can find a long list of surety agencies by running a search for motor vehicle dealer bind.
How long does dealer have to keep insurance on vehicles after bought?
a dealer should have a bond. The coverage on the vehicle is like having a liability policy. If the dealer was driving the car and had an at fault accident, he will have to pay for repairs on his vehicle and the bond will cover the other persons car. Once you buy a car from a dealer, you are responsible for purchasing insurance for the vehicle, the dealer is no longer liable. In fact, the dealer should require that you have insurance before you drive the vehicle off the lot.
What is the process of collecting on a car dealer surety bond?
Contact the surety bond company and they will send a form to fill out. They will contact the dealer, when they receive the form, to investigate the claim and proceed from that point.
What information do you need to give a used car dealer to get the tags on the car your buying?
Registration, insurace, address, copy of licence etc.
Is it legal to sell a certified used car with a cracked windshield?
"certified" used car is a marketing tool not a law. What did they certify? That the car was used or did they certify that it had a cracked windshield. You need to clarify with the dealer what they are certifying.
Where is a reputable used car dealer in Allen, Tx?
Bina Motors Inc. is a reputable used car dealer in Allen, Tx.
